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Air India will order almost 500 jets, says aircraft lessor




Air India will order almost 500 jets, says aircraft lessor

Air India did not immediately respond to a request for comment.

Dublin:

Air India is set to order around 500 planes as a recovery in the airline industry takes hold after the pandemic, one of the world̵[ads1]7;s leading aircraft lessors said on Monday.

“As a result of this recovery, there is now more momentum for large orders from airlines that have kind of sat back and watched the movie and now they see that it’s going to be a positive trend,” Steven Udvar-Hazy, managing director chairman of AirLease Corp, told the Airline Economics conference.

“We have this 500-plane order coming out of India, which is going to be about 400 narrow-body planes, probably a mix of (Airbus) A320neos, A321neos and (Boeing) 737 MAXs, and 100 wide-body planes which includes (Boeing) 787s, 777X, potentially some 777 freighters and (Airbus) A350.”

The comments are the first public indication of the scale of the planned order after Reuters reported in December that Air India was close to ordering as many as 500 jets as it makes a renaissance under the Tata Group conglomerate.

Industry sources say the completion of the proposed deal depends on ongoing negotiations with engine manufacturers.

Air India did not immediately respond to a request for comment. Airbus and Boeing had no immediate comment.

United Airlines recently ordered 200 large and small planes. China last year placed a block order for Airbus jets.

“We expect a number of airlines to place large orders, and again most of those orders will be for replacements,” Udvar-Hazy said.

He predicted that airlines would increasingly turn back to midsize widebody jets after significant delays in the development of Boeing’s biggest new model, the 400-seat 777X – currently running for five years and potentially increasing further.

“We expect both OEMs to be under pressure over the next couple of years to increase production rates, not necessarily back to the levels they were in 2018, but certainly well above current production.”

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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